Multi-Tenant Retail/Office Building in Parker Sells for $18.5M
Parker Station, a multi-tenant office/retail investment property located in the heart of downtown Parker at 19751 E Mainstreet, has sold for $18.5 million.
This immaculate physical asset is located in beautiful Old Town Parker, which is host to 50+ community events throughout the year, and boasts a strong mix of retail and office tenants. The building is currently occupied by 47 tenants comprised of local business owners.
The buyer was Mountain Elk Ridge, LLC & CAIS Futures, LLC, a local partnership of private investors who were represented by Jeff Johnson of Pinnacle Real Estate Advisors. The seller was TD Commercial Investments, LLC, a local family office represented by John Witt and Matt Call of NavPoint Real Estate Group.
“The seller meticulously maintained Parker Station inside and out using sophisticated management, organizational, and accounting systems which resulted in high occupancy throughout the seller’s period of ownership, and for these same reasons the asset drew substantial investor interest. The buyer was a private investor coming out of a multi-family asset in a 1031 exchange and they were immediately attracted to the location and physical condition of the property resulting in a swift offer, contract, and closing,” said Witt, of NavPoint Real Estate Group.
This transaction successfully closed in September 2019.